A)

Compute Clover's
Gross Profit
Per December 31,2014
Revenue :
Sales 840,000
Less : Sales Discounts 7,000
Sales Returns and Allowances 11,000
(18,000)
Net Sales 822,000

Cost Of Goods Sold

Beginning Inventory, 1 Jan 50,000
Add: Purchase 509,000
Freight In 4,000
513,000
Less : Purchase Discounts 6,000
Purhase Returns and Allowance 8,000
(14,000)
Net Purchase 499,000
Gross Available For Sale 549,000
Less : Ending Inventory, 31 Dec (60,000)
COGS (489,000)
Gross Profit 333,000

B) Dik : Gross Profit 333,000

Net Income 130,000

Jwb : Gross Profit - Operating Expenses = Net Income

333,000 - Operating Expenses = 130,000
Operating Expenses = 130,000
 Barbosa Company
Worksheet
For the Mont Ended June 30
Trial Balance Adjustment Statement
No Accounts Titles
Debet Credit Debet
1 Cash 2,120
2 Accounts Receivable 2,440
3 Inventory 11,640
4 Accounts Payable 1,120
5 Share Capital - Ordinary 4,000
6 Sales Revenue 42,500
7 Cost Of Goods Sold 20,560
8 Operating Expenses 10,860 1,500
Total 47,620 47,620 1,500
Net Income
Totals

Other Data :
Operating Expenses 1,500
Account Payable 1,500
 Barbosa Company
Worksheet
For the Mont Ended June 30,2014
Adjustment Statement Adjustment Trial Balance Income Statement Statement of Financial Position
Credit Debet Credit Debet Credit Debet
2,120 2,120
2,440 2,440
11,640 11,640
1,500 2,620
4,000
42,500 42,500
20,560 20,560
12,360 12,360
1,500 49,120 49,120 32,920 42,500 16,200
9,580 - -
42,500 42,500 16,200
tement of Financial Position
Credit

2,620
4,000

6,620
9,580
16,200
A]

Vree Distributing Company

General Journal
Apr-14

Date Accounting Titles Ref Debet

Apr-14 2 Inventory 120 6,200
Accounts Payable 201
4 Accounts Receivable 112 5,500
Sales Revenue 401
Cost Of Goods Sold 505 3,400
Inventory 120
5 Freight Out 644 240
Cash 101
6 Accounts Payable 201 500
Inventory 120
11 Accounts Payable (Rp6,200-Rp500) 201 5,700
Inventory (Rp5,700 x 1 % ) 120
Cash 101
13 Cash 101 5,445
Sales Discount (Rp5,500 x 1% ) 414 55
Accounts Receivable 112
14 Inventory 120 3,800
Cash 101
16 Cash 101 500
Inventory 120
18 Inventory 120 4,500
Accounts Payable 201
20 Inventory 120 160
Cash 101
23 Cash 101 7,400
Sales Revenue 401
Cost Of Goods Sold 505 4,120
Inventory 120
26 Inventory 120 2,300
Cash 101
27 Accounts Payable 201 4,500
Inventory (Rp4,500x2%) 120
Cash 101
29 Sales Returns and Allowance 412 90
Cash 101
Inventory 120 30
Cost Of Goods Sold 505
30 Accounts Receivable 112 3,400
 Sales Revenue 401
Cost Of Goods Sold 505 1,900
Inventory 120

Totals 59,740
Credit

6,200

5,500

3,400

240

500

57
5,643

5,500

3,800

500

4,500

160

7,400

4,120

2,300

90
4,410

90

30
3,400

1,900

59,740
 Vree Distributing Company
General Ledger
Apr-14
Cash
Date Explanation Ref Debet Credit
Apr 1 Balance √
2014 5 J1 240
11 J1 5,643
13 J1 5,445
14 J1 3,800
16 J1 500
20 J1 160
23 J1 7,400
26 J1 2,300
27 J1 4,410
29 J1 90

Accounts Receivable
Date Explanation Ref Debet Credit
Apr 4 J1 5,500
2014 13 J1 5,500
30 J1 3,400

Inventory
Date Explanation Ref Debet Credit
Apr 2 J1 6,200
2014 4 J1 3,400
6 J1 500
11 J1 57
14 J1 3,800
16 J1 500
18 J1 4,500
20 J1 160
23 J1 4,120
26 J1 2,300
27 J1 90
29 J1 30
30 J1 1,900

Accounts Payable
Date Explanation Ref Debet Credit
Apr 2 J1 6,200
2014 6 J1 500
11 J1 5,700
 18 J1 4,500
27 J1 4,500

Share Capital-Ordinary
Date Explanation Ref Debet Credit
Apr 1 Balance √
2014

Sales Revenue
Date Explanation Ref Debet Credit
Apr 4 J1 5,500
2014 23 J1 7,400
30 J1 3,400

Sales Returns and Allowance 4

Date Explanation Ref Debet Credit
Apr 29 J1 90
2014

Sales Discounts
Date Explanation Ref Debet Credit
Apr 13 JI 55
2014

Cost Of Goods Sold

Date Explanation Ref Debet Credit
Apr 4 J1 3400
2014 23 J1 4120
29 J1 30
30 J1 1900

Freight Out
Date Explanation Ref Debet Credit
Apr 5 J1 240
2014
Balace
8,000
7,760
2,117
7,562
3,762
4,262
4,102
11,502
9,202
4,792
4,702

Balace
5,500
-
3,400

Balace
6,200
2,800
2,300
2,243
6,043
5,543
10,043
10,203
6,083
8,383
8,293
8,323
6,423

Balace
6,200
5,700
-
 4,500
-

Balace
8,000

Balace
5,500
12,900
16,300

4
Balace
90

Balace
55

Balace
3,400
7,520
7,490
9,390

Balace
240
 Vree Distributing Company
Trial Balance
Apr-14
Accounts Titles Debet Credit
Cash 4,702
Accounts Receivable 3,400
Inventory 6,423
Accounyts Payable -
Share Capital - Ordinary 8,000
Sales Revenue 16,300
Sales Returns and Allowance 90
Sales Discounts 55
Cost Of Goods Sold 9,390
Freight Out 240
Totals 24,300 24,300

Vree Distributing Company

Income Statement
Apr-14

Revenue :
Sales Revenue 16,300
Less : Sales Returns and Allowance 90
Sales Discounts 55
(145)
Net Sales 16,155
Cost Of Goods Sold (9,390)
Gross Profit 6,765